D2N2 wins £44.4m boost

As part of the Government's ’New Deal’ announcement, Bondholder D2N2 Local Enterprise Partnership has received a £44.4 million cash boost to fund ‘shovel-ready’ projects to help the local economy and create jobs.

The investment will support economic recovery as a result of the Covid-19 pandemic and will be used to improve digital infrastructure, support skills and career opportunities, and help the transition to a low carbon economy.

David Williams, interim Chair of the Local Enterprise Partnership, said: “As we reshape our Local Industrial Strategy to reflect the impact of the COVID-19 pandemic it’s essential we remain flexible to support our communities, that we adapt to new opportunities, and build an economy that it is more resilient in the long term.”

“We will continue to work with government on future funding for investments to support our ambitions for the region.”

The ’New Deal’ announcement is part of a comprehensive plan by government to ‘build, build, build’, delivering upgrades to local infrastructure and boosting skills in a move to fuel economic recovery across the whole of the UK.

The D2N2 Local Enterprise Partnership has received the sixth largest allocation – across 36 Local Enterprise Partnerships and Combined Authorities – through a £900 million Getting Building Fund that will support local infrastructure projects.

Answering a national call from Government, D2N2, together with partners from across the region, put forward a long list of compelling and innovative projects to deliver growth and continue to develop the talent, ideas, and facilities in the region.

These projects will now be evaluated by government to identify which will receive funding and deliver the most value in terms of restarting the local economy and meeting the future challenges of levelling up the UK.

Successful projects will need to demonstrate they meet LEP key priorities and can be completed by the end of 2021.

David Williams added: “We very much welcome the announcement by government. This will provide a major stimulus for our cities, towns and communities.

“We believe the size of the allocation demonstrates a belief in what the D2N2 Local Enterprise Partnership can deliver and a testament to the collaborative working between the LEP and its partners.

“We will continue to work with partners as we begin negotiations with the government to determine which projects will receive funding based on their ability to accelerate growth and create employment.”

The Prime Minister has also announced that funding will be brought forward for 15 towns across the East Midlands to help them meet the immediate challenges they face due to the pandemic.

This fast-tracking of investment totalling £11 million will help kick-start activity in towns and high streets across the East Midlands, ensuring local people can see and feel the benefit as soon as possible.